What are the key features of the Ethereum Shanghai update?

1 answers

• Feb 18, 2022 · 3 years ago
  The Ethereum Shanghai update, also known as the London hard fork, brings several important features and updates to the Ethereum network. One of the key features of this update is the implementation of EIP-1559, which aims to improve the user experience by introducing a more predictable and user-friendly transaction fee mechanism. This update introduces a base fee that is burned, reducing the overall supply of Ethereum and potentially making it a deflationary asset. Another important feature of the Shanghai update is the integration of the PoS consensus mechanism, which will make the Ethereum network more energy-efficient and scalable. With these updates, the Ethereum network is expected to become more robust and user-friendly, paving the way for the future growth and adoption of Ethereum as a leading blockchain platform.
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